Who needs the headache of forking out money for a mortgage every month, when you could just buy a house for £5,000?
A golden opportunity has arisen in Scotland – a three-bedroom detached house in Dumfries and Galloway is going up for sale next month for this remarkably low sum. What’s the catch, I hear you ask?
Well, it’s not exactly ready to live in. Based in Moniaive in Thornhill, the property offers entrance hallway, a cosy lounge area, kitchen, a shower room and three bedrooms – however, the floors and walls have been stripped, among many, many other things.
If you’re in the market for some hard graft, the property could be the one for you – it’s up for auction in Glasgow on September 19.
The description of the home on Auction House Scotland’s website reads:
Fantastic builder/developer opportunity to purchase this three bedroom detached cottage situated in the popular village of Moniaive which is rarely available for auction. This property is in need of extensive works but would make a fantastic purchase for the right buyer with similar habitable properties valuing upwards of £200,000.
The idea would be that someone buys the house, spends money on sprucing it up to make it look attractive, and then sells it for a profit. Easy, right?
Unfortunately, overhauling homes and selling them on hasn’t been as profitable a prospect over the past 15 years.
In 2004, according to The Sun, more than 60,000 homes a year were bought, renovated and sold on for a profit in England and Wales.
These are massive numbers compared to last year – 2018 saw a 69 per cent drop, with only 18,630 homes being transformed.
However, the detached cottage still has potential. It has a huge amount of garden space, which would be a selling point in the rural village of Moniaive.
Nestled in beautiful countryside where the three glens of Craigdarroch, Dalwhat and Castlefairn meet, it’s a strong community village with plenty of history. There are a number of events held throughout the year, including a Folk Festival, Bluegrass Festival and Moniaive Gala.
If you’re interested in the property, visit the Auction House Scotland website for more information – whit’s fur ye’ll no go past ye!
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After graduating from Glasgow Caledonian University with an NCTJ and BCTJ-accredited Multimedia Journalism degree, Cameron ventured into the world of print journalism at The National, while also working as a freelance film journalist on the side, becoming an accredited Rotten Tomatoes critic in the process. He’s now left his Scottish homelands and took up residence at UNILAD as a journalist.